Malaysia

Tokenisation

Malaysia’s Guidelines on Digital Assets Enter Into Force

By Editors | 28/10/2020

The Securities Commission invites parties interested in registering as IEO platform operators or digital asset custodians to start submitting their applications.

Fraud, Scams & Cybercrime

SC Malaysia Establishes Task Force to Combat Financial Scams

By Editors | 27/10/2020

SC chairman Datuk Syed Zaid Albar SAID Malaysian nationals lost $220mn to financial scams in the first six months of this year.

Anti-Money Laundering

MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’

By Editors | 23/10/2020

The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.

Anti-Bribery & Corruption

Goldman Resolves Remaining 1MDB Charges for $2.9bn

By Manesh Samtani | 22/10/2020

Under the coordinated resolution, Goldman will pay $606mn in disgorgement and more than $2.3bn in penalties to authorities in the US, UK, Hong Kong and Singapore.

Conduct, Culture & Accountability

Malaysia SRO Reprimands Two Unit Trust Consultants for Misconduct

By Sanday Chongo Kabange | 22/10/2020

The two consultants allegedly schemed a plot to market, distribute and sell unit trust funds while they served as registered consultants of different entities.

Anti-Bribery & Corruption

Goldman US Penalty Over 1MDB to be Announced ‘Within Days’

By Editors | 20/10/2020

Goldman Sachs Group has reportedly reached a more than $2bn settlement with the US DOJ over its role in Malaysia’s 1MDB scandal.

Trading & Investment

SC Malaysia to Allow Financial Planners to Advise on Stocks, Bonds

By Editors | 11/10/2020

The new policy will encourage informed participation in stocks and bonds, while also protecting investors against bad investment choices.

KYC & CDD

Hong Leong Bank Launches Digital Account Opening

By Editors | 08/10/2020

Hong Leong has become the first Malaysia bank to launch “fully digital” account opening, just three months after BNM’s new e-KYC guidelines took effect.

Trading & Investment

Malaysian MSMEs Cross MYR 1bn Crowdfunding Mark

By Sanday Chongo Kabange | 06/10/2020

The SC highlighted a “considerable increase” in investor participation in markets via digital investment managers, ECF and P2P platforms, digital asset exchanges and online brokers.